Phone: Fax: Commissioners Road, W. London, Ontario N6J 1Y3 STATISTICAL REPORT. (for month ending July 31, 2017)

Transcription

1 Phone: Fax: Commissioners Road, W. London, Ontario N6J 1Y3 STATISTICAL REPORT (for month ending July 31, 2017)

2 Table of Contents News Release for July Market Report for July Statistical Report for the Month Ending 6 Residential Statistical Report for the Month Ending 7 Sales to New Listings Ratio 10 Year Review 8 St. Thomas Statistics 9 St. Thomas Sales by Month 10 MLS Residential Sales, Jan.1 Dec. 31, a 10-year review 11 MLS Residential Sales, July. to July., a 10-year review 12 MLS Listings, Jan. 1 Dec. 31, a 10-year review 13 MLS Listings, July. to July., a 10-year review 14 Active MLS Residential Listings, Jan. 1 Dec. 31, a 10-year review 15 Active MLS Residential Listings, July. to July., a 10-year review 16 Average Residential Price in Association s Jurisdiction 17 Total MLS Dollar Volume, Jan. 1 Dec. 31, a 10-year review 18 Total MLS Dollar Volume, July. to July., a 10-year review 19 Residential Sales for Month 20 Average Residential Prices, including London and St. Thomas, Fifteen-Year Condo Review 24 Breakdown by Area 25 Statistical Report (July 2017) Page 2 of 27

3 News Release August 1, 2017 For Comment: Jim Smith, For Background: John Geha, A strong finish for July home sales London, ON The London and St. Thomas Association of REALTORS (LSTAR) announced 1,002 homes were sold in July, the best July monthly total in 10 years and an increase of 1.2% over the same period last year. July 2007 holds the all-time July monthly record with 1,009 sales, since LSTAR began tracking sales data in 1978*. This is an amazing year for real estate in our region. Although shy of the best July ever by a handful of units, home sales are still performing strongly, with year-to-date sales outpacing 2016 by almost 20 percent, said Jim Smith, LSTAR President. We are still seeing transactions involving out-of-town agents, but not at the levels we experienced in the spring. The activity is signifying we may be heading toward a more balanced marketplace. In the dog days of summer, we traditionally experience a quieter market, but that s not the case this year. Now s the time to get in touch with a REALTOR to take advantage of this robust market. In July, a total of 793 detached homes were sold, a decrease of 1.7% from the previous year, while condominium sales were up 14.2% from 2016, with 209 units sold. The average sales price across London and St. Thomas was $326,122 down 2.7% from the previous month. The average year-todate sales price was $330,718 up 18.5% from the 2016 average home price of $279,057. The greater real estate community is contributing to the steady growth of our local economy, Smith said. The City of London just reported that it has issued more building permits compared to last year at this time, another sign of how strong our marketplace is. In July, there were 1,449 listings, up 15% from the same time in The year-to-date sales are ahead by 19.7%, with a total of 7,535 homes sold. St. Thomas saw a total of 85 homes sold, down 12.4% from the same time last year. The average home price in St. Thomas was $267,106 down 4.7% from the previous month. House Style Units Sold Average Price 2 storey 223 $455,870 Bungalow 167 $279,125 Ranch 122 $389,303 Townhouse 108 $207,693 High rise apt. condo 56 $225,802 The best-selling house style in July continues to be the two-storey, followed by the bungalow and ranch. The average price for a detached home in July was $350,288 down 3.1% from the previous month, while the average price for a condominium was $234,431 up 2.4% from the previous month. Statistical Report (July 2017) Page 3 of 27

4 The following table is based on data taken from the Canadian Real Estate Association s (CREA) National MLS Report for June 2017 (the latest CREA statistics available). It provides a snapshot of how average home prices in London and St. Thomas compare to other major Ontario and Canadian centres. City Average Sale $$ Vancouver $1,039,043 Toronto $764,703 Fraser Valley $718,412 Victoria $654,146 Hamilton $537,367 Calgary $473,839 Kitchener-Waterloo $465,271 Niagara $399,042 Ottawa $395,507 Edmonton $384,874 London St. Thomas $328,951 CANADA $491,770 According to a research report 1, one job is created for every three real estate transactions and approximately $53,000 in ancillary spending is generated every time a home changes hands in Ontario. Based on the monthly total for July, that translates into creating potentially over 330 jobs and positioning us to potentially generate nearly $53 million back into the local economy, Smith said. At the same time, with a very strong real estate market, we have to take a look beyond those numbers and consider the overall impact to the economy, affecting other sectors such as retail, transportation, entertainment, tourism and smart technology. The London and St. Thomas Association of REALTORS (LSTAR) exists to provide our REALTOR Members with the support and tools they need to succeed in their profession. LSTAR is one of Canada s 15 largest real estate associations, representing over 1,700 REALTORS working in Middlesex and Elgin Counties, a trading area of 500,000 residents. LSTAR adheres to a Quality of Life philosophy, supporting growth that fosters economic vitality, provides housing opportunities, respects the environment and builds good communities and safe neighbourhoods and is a proud participant in the REALTORS Care Foundation s Every REALTOR Campaign. *These statistics represent a data snapshot taken on August 1, 2017, based on reported sales activity between July 1 and 31, Economic Impacts of MLS System Home Sales and Purchases in Canada and the Provinces, Altus Group Consulting, Statistical Report (July 2017) Page 4 of 27

5 LSTAR S Market Report for July 2017 Market Activity Type of Market 793 detached homes and 209 condos exchanged hands in July 2017, for a total of 1002 transactions. Continues to function as a Balanced Market but tipping slightly towards a Seller s Market Listings Active detached home listings end of period were down 26.6%. Active condo listings end of period were down 52.6% Total Residential (Detached & Condo) $326,122 down 2.7% ($335,233) All detached homes in LSTAR s jurisdiction $350,288 down 3.1% ($361,560) Average Price July 2017 (Compared to June 2017) All condos in LSTAR S jurisdiction $234,431 up 2.4% ($228,860) All two-storeys in LSTAR s jurisdiction $455,870 down 5.9% ($484,500) All bungalows in LSTAR s jurisdiction $279,125 up 3.3% ($270,115) All ranches in LSTAR S jurisdiction $389,303 down 4.3% ($406,665) All townhouse condos in LSTAR s jurisdiction $207,693 up 2.0% ($203,603) Most Popular in July Two-storeys, then bungalows, then ranches, then townhouse condominiums, then high rise apartment condos. In July, a total of 793 detached homes were sold, a decrease of 1.7% from the previous year, while condominium sales were up 14.2% from 2016, with 209 units sold. The average sales price across London and St. Thomas was $326,122 down 2.7% from the previous month. The average year-to- date sales price was $330,718 up 18.5% from the 2016 average home price of $279,057. In July, there were 1,449 listings, up 15% from the same time in The year-to-date sales are ahead by 19.7%, with a total of 7,535 homes sold. St. Thomas saw a total of 85 homes sold, down 12.4% from the same time last year. The average home price in St. Thomas was $267,106 down 4.7% from the previous month. The following table is based on data taken from the Canadian Real Estate Association s (CREA) National MLS Report for June 2017 (the latest CREA statistics available). It provides a snapshot of how average home prices in London and St. Thomas compare to other major Ontario and Canadian centres. Affordability City Average Sale $$ Vancouver $1,039,043 Toronto $764,703 Fraser Valley $718,412 Victoria $654,146 Hamilton $537,367 Calgary $473,839 Kitchener-Waterloo $465,271 Edmonton $384,874 Ottawa $395,507 Niagara $399,042 London St. Thomas $328,951 CANADA $491,770 London, ON The London and St. Thomas Association of REALTORS (LSTAR) announced 1,002 homes were sold in July, the best July monthly total in 10 years and an increase of 1.2% over the same period last year. July 2007 holds the all-time July monthly record with 1,009 sales, since LSTAR began tracking sales data in 1978*. Market Factors This is an amazing year for real estate in our region. Although shy of the best July ever by a handful of units, home sales are still performing strongly, with year-to-date sales outpacing 2016 by almost 20 percent, said Jim Smith, LSTAR President. We are still seeing transactions involving out-of-town agents, but not at the levels we experienced in the spring. The activity is signifying we may be heading toward a more balanced marketplace. In the dog days of summer, we traditionally experience a quieter market, but that s not the case this year. Now s the time to get in touch with a REALTOR to take advantage of this robust market. Statistical Report (July 2017) Page 5 of 27

6 London and St.Thomas Association of REALTORS Statistical Report for the Month Ending: 31-Jul Monthly Data 2016 Monthly Data DETACHED % CONDO % OTHER TOTAL % DETACHED CONDO OTHER TOTAL Units Sold Dollar Volume $277,778, $48,996, $32,576,764 $359,351, $240,049,578 $37,360,075 $25,918,450 $303,328,103 No.of Listings Year-to Date 2016 Year-to-Date DETACHED % CONDO % OTHER TOTAL % DETACHED CONDO OTHER TOTAL Units Sold Dollar Volume $2,127,773, $364,184, $265,862,815 $2,757,820, $1,508,719,146 $239,148,997 $162,514,574 $1,910,382,717 No.of Listings , ,898 Active Listings (end of period) Detached Average Price(Month) $350, $297,459 Average Price (YTD) $356, $295,769 Condo Average Price(Month) $234, $204,153 Average Price (YTD) $232, $200,292 Total Residential Average Price(Month) $326, $280,212 Average Price (YTD) $330, $277,660 Statistical Report (July 2017) Page 6 of 27

7 London and St.Thomas Association of REALTORS Residential Statistical Report for the Month Ending: 31-Jul Monthly Data 2016 Monthly Data DETACHED % CONDO % TOTAL % DETACHED CONDO TOTAL Units Sold Dollar Volume $277,778, $48,996, $326,774, $240,049,578 $37,360,075 $277,409,653 No.of Listings Average Price (July) $350,288 $234,431 $326,122 $297,459 $204,153 $280, Average Price (June) $361,560 $228,860 $335,233 $300,067 $193,379 $279,916 % Difference in Average Price in Current Month Compared to Previous Month 2017 Year-to-Date 2016 Year-to-Date DETACHED % CONDO % TOTAL % DETACHED CONDO TOTAL Units Sold Dollar Volume $2,127,773, $364,184, $ 2,491,957, $1,508,719,146 $239,148,997 $ 1,747,868,143 No.of Listings Active Listings (end of period) Average Price YTD $356,351 $232,854 $330,718 $295,769 $200,292 $277, Average Price (Dec.31/16)* $297,480 $200,335 $279,057 $282,229 $189,798 $264,435 * % Difference in Average Price Year-to-Date Compared to December 31, 2016 RESIDENTIAL STATISTICS July 2017 Statistical Report (July 2017) Page 7 of 27

8 Sales to New Listings Ratio (10 Year Review) 100.0% 90.0% 80.0% Sellers Market July % 60.0% 50.0% 40.0% Balanced Market 30.0% 20.0% Buyers Market 10.0% 0.0% Statistical Report (July 2017) Page 8 of 27

9 London and St.Thomas Association of REALTORS Statistical Report for the Month Ending: July 31, 2017 ST. THOMAS STATISTICS 2017 Monthly Data 2016 Monthly Data % Units Sold Dollar Volume $22,704, $22,715,330 No.of Listings Active at End Year-to Date 2016 Year-to-Date % Units Sold Dollar Volume $163,702, $119,253,352 No.of Listings Average Price (July 2017) $267, Average Price (July 2016) Average Price (June 2017) $280,336 $234,179 Average Price YTD $257, Average Price (YTD 2016) Average Price (Dec.31/16) * $233,476 $226,717 * Difference in Average Price Year-to-Date Compared to December 31, 2016 Statistical Report (July 2017) Page 9 of 27

10 ST. THOMAS Sales by Month YEAR JANUARY FEBRUARY MARCH APRIL MAY JUNE JULY AUGUST SEPTEMBEROCTOBER NOVEMBERDECEMBER TOTAL Year Average ( ) Statistical Report (July 2017) Page 10 of 27

11 MLS Residential Sales (Jan. 1 to Dec. 31 a 10 year review) ,193 Statistical Report (July 2017) Page 11 of 27

12 MLS Residential Sales (July YTD a 10 year review) Statistical Report (July 2017) Page 12 of 27

13 MLS Residential Listings (Jan. 1 to Dec. 31 a 10 year review) ,990 16,236 14,362 15,582 16,473 15,661 15,909 16,492 16,590 14,867 Statistical Report (July 2017) Page 13 of 27

14 MLS Residential Listings (July YTD a 10 year review) Statistical Report (July 2017) Page 14 of 27

15 Active MLS Residential Listings End of Period (10 year review) Statistical Report (July 2017) Page 15 of 27

16 Active MLS Residential Listings End of Period as of July (10 year review) Statistical Report (July 2017) Page 16 of 27

17 Average Residential Price in Association s Jurisdiction (10 year review) $202,256 $210,888 $213,402 $227,056 $232,387 $238,822 $245,737 $254,141 $264,435 $279,057 Statistical Report (July 2017) Page 17 of 27

18 Total MLS Dollar Volume (10 year review) ,083,113,745 1,922,848,300 1,874,879,343 2,044,092,298 2,058,184,156 2,145,684,491 2,138,447,904 2,397,211,776 2,715,011,106 3,154,520,536 Statistical Report (July 2017) Page 18 of 27

19 Total MLS Dollar Volume YTD as of July (10 year review) ,294,667,624 1,130,900,174 1,357,073,060 1,279,529,108 1,403,710,787 1,355,767,286 1,477,166,575 1,688,899,500 1,910,382,717 2,757,820,568 Statistical Report (July 2017) Page 19 of 27

20 Residential Sales by Month 2017 YEAR Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. Total YTD 5 Year Average: Condos 5 Year Average: Detached Condo Detached Condo Detached Condo Detached Condo Detached Condo Detached Condo Detached Statistical Report (July 2017) Page 20 of 27

21 YEAR Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. Total YTD Condo Detached Condo Detached Condo Detached Condo Detached Condo Detached Condo Detached Condo Detached Condo Detached Condo Detached Condo Detached Statistical Report (July 2017) Page 21 of 27

22 YEAR Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. Total YTD Statistical Report (July 2017) Page 22 of 27

23 Year Average Residential Prices to 2017 YTD Average Price (London) Average Price (St. Thomas) Average Price (Area) 1987 $106,300 $72,892 $97, $117,695 $90,887 $111, $134,960 $101,108 $128, $141,919 $106,202 $134, $143,306 $106,134 $134, $141,764 $112,088 $135, $139,311 $106,843 $133, $138,279 $111,823 $134, $131,954 $109,019 $127, $129,817 $107,005 $127, $132,838 $111,957 $130, $133,525 $109,378 $129, $133,033 $116,297 $131, $135,996 $115,994 $134, $137,820 $114,257 $136, $143,007 $121,470 $142, $155,148 $129,349 $152, $169,022 $141,989 $166, $178,899 $155,595 $178, $193,087 $162,250 $188, $208,865 $172,550 $202, $211,323 $187,361 $210, $214,769 $182,450 $213, $231,020 $182,719 $227, $238,238 $189,413 $232, $240,370 $191,607 $238, $246,919 $201,586 $245, $256,154 $199,885 $254, $265,831 $216,800 $264, $283,778 $233,476 $279, $339,895 $257,799 $330,718 LSTAR's jurisdiction includes Middlesex and Elgin Counties, home to nearly 500,000 residents. Statistical Report (July 2017) Page 23 of 27

24 Condos 15 Year Review Year Total % Increase Average Price Townhouse % Increase Average Price $102, $98, $111, $101, $120, $111, $126, $123, $138, $131, $146, $136, $151, $145, $158, $146, $171, $155, $179, $157, $171, $154, $178, $159, $182, $161, $189, $162, $200, $173,161 Statistical Report (July 2017) Page 24 of 27

25 Statistical Breakdown by Area for July 2017 London Item 2016 Average Sale Price * 2017 Year to Date % NORTH Total Detached North $378,091 $460, % Total Condo North $245,901 $284, % Bungalow North $289,726 $367, % Two Storey North $411,984 $500, % Ranch North $412,835 $488, % Townhouse Condo North $209,561 $244, % SOUTH Total Detached South $324,649 $399, % Total Condo South $178,541 $210, % Bungalow South $252,304 $304, % Two Storey South $396,626 $493, % Ranch South $364,611 $432, % Townhouse Condo South $161,119 $195, % EAST Total Detached East $228,114 $273, % Total Condo East $167,998 $200, % Bungalow East $189,809 $226, % Two Storey East $304,938 $373, % Ranch East $231,313 $279, % Townhouse Condo East $138,500 $154, % * up-to-date figures based on January 1, 2016 to December 31, 2016 Statistical Report (July 2017) Page 25 of 27

26 Statistical Breakdown by Area for July 2017 Elgin Item 2016 Average Sale Price * 2017 Year to Date % Total Detached $250,947 $279, % Total Condo $184,865 $209, % Bungalow $205,078 $226, % Two Storey $348,129 $388, % Ranch $287,054 $326, % Townhouse Condo $234,140 $249, % St. Thomas Item 2016 Year to Date 2017 Year to Date % Total Detached $224,203 $254, % Total Condo $294,163 $237, % Bungalow $224,714 $249, % Two Storey $265,420 $319, % Ranch $264,993 $286, % Townhouse Condo $0 $0 0.0% * up-to-date figures based on January 1, 2016 to December 31, 2016 Statistical Report (July 2017) Page 26 of 27

27 Statistical Breakdown by Area for July 2017 Middlesex County Item 2016 Average Sale Price * 2017 Year to Date % Total Detached $338,978 $404, % Total Condo $319,235 $407, % Bungalow $260,637 $313, % Two Storey $415,590 $483, % Ranch $396,116 $444, % Townhouse Condo $264,425 $285, % Strathroy Item 2016 Year to Date 2017 Year to Date % Total Detached $243,459 $307, % Total Condo $241,819 $215, % Bungalow $227,045 $297, % Two Storey $307,336 $366, % Ranch $281,289 $361, % Townhouse Condo $188,500 $ % * up-to-date figures based on January 1, 2016 to December 31, 2016 Statistical Report (July 2017) Page 27 of 27